Fatherhood and Life Insurance

One of the best thing I did before I had my first child was to get life insurance.

Why??

As much as I believe I will live forever, there’s a non-zero chance I will die tomorrow.

When I die, I want to leave resources for my children - knowledge, experience, financial, etc.

The normal way to leave financial resources would be cash - I work, I save, I leave cash.

The longer I work, the more cash I leave - the older I get, I receive better compensation.

Problem is, what if I don’t get to be older? What if I only have tomorrow, next week, or next year to pass financial resources to my children?

In a way, life insurance provides a method to pass financial resources to my children that is not based on time. The policy amount is the same whether I pay into it tomorrow, next week, or next year.

Life insurance as a financial instrument provides me confidence that my children will get financial resources from me after I pass, no matter how long I work or save.

If I have zero financial resources when I pass, the life insurance policy will provide financial resources to my children.

That helps me stay present and confident my family will have something after I pass.

Before kids, I definitely did not want to think about life insurance.

After kids, I am so glad I have life insurance.